Mercado De Research Articles

Financial literacy bias: a comparison between students and nonstudents

PurposeThis work uses survey data from the Portuguese Securities Market Commission (Comissão de Mercado de Valores Mobiliários – CMVM) to examine financial literacy and literacy bias. The main objective of this study is to shed light on this issue by identifying the individual characteristics that are associated with financial literacy, namely overconfidence and underconfidence, which in turn might help explain individuals' financial decisions. The study distinguishes two groups, i.e. students and nonstudents, and considers several characteristics that are usually employed in this stream of research.Design/methodology/approachThe data are based on a survey conducted by a partnership between the CMVM and a consortium of Portuguese universities. This paper has a three-fold aim. First, it studies the main individual features associated with objective financial literacy. Second, it analyzes the relationship between those variables and the bias between self-perceived and objective literacy, distinguishing overconfidence and underconfidence. Third, and most originally, this framework was also used to examine the differences between students and nonstudents. Those aims are pursued using cross-sectional ordinary least squares (OLS) regressions, except for the study of the literacy bias, for which the authors use an ordered probit.FindingsLiteracy is higher in individuals of the male gender who are older, have higher incomes, live in metropolitan areas, are highly educated, have a field of study related to finance and have high self-perceived literacy. Younger people are more overconfident. Unconditionally, women are less overconfident than men, but conditionally, they overestimate their knowledge. People holding securities and with a field of study related to finance are more overconfident. The gender effect is mainly driven by students, and the impact of a field of study and of holding securities on overconfidence decreases and increases, respectively, for students. The results highlight the importance of financial education.Research limitations/implicationsDue to the way that the questionnaire was made available, there is no guarantee that the sample is representative of the Portuguese general population, or, for that matter, representative of the typical Portuguese retail investors or households. Also, there is no guarantee that the same individual did not answer the questionnaire more than once, although this is highly improbable. The link to the online questionnaire was only transmitted within e-mail databases owned by the CMVM and Portuguese universities, so the authors cannot guarantee its unbiasedness.Practical implicationsThe authors' results may help the National Plan for Financial Education (the acronym in Portuguese is PNFF) fine-tune the required actions towards different target groups and, most importantly, highlight that different groups may require different approaches aiming to narrow the gap between objective and perceived literacy. The first step should be creating procedures to provide feedback on the objective and perceived literacy of those who enroll in financial formation programs.Social implicationsThe study distinguishes two groups, students and nonstudents, providing additional insights that might guide policymakers on how to structure financial education to enhance individual financial behavior. This is especially important in a country such as Portugal which has the lowest objective financial literacy in the Eurozone.Originality/valueThis study contributes to the financial literacy literature, in particular to the stream of research that focuses on psychological biases, by shedding light on the factors associated with both individual overconfidence and underconfidence. Differentiating between students and nonstudents provides additional insights, which might guide policymakers on how to structure financial education to enhance individual financial behavior.

Resenha do livro “Emoções & educação: reflexões sobre a obra de Augustín Escolano Benito”

The text deals with a review of the book Emoções & Educação - The historical construction of emotional education, translated into Portuguese by Heloísa Helena Pimenta Rocha and Andréa Bezerra Cordeiro, is a publication by Editora Mercado de Letras from the year 2021, about the original work Emociones Y Educación – La Construcción Histórica de La Educación Emocional, from 2018, by professor and researcher Augustín Escolano Benito, full professor at the Universidad de Valladolid and founder and director of the Centro Internacional de la Cultura Escolar (CEINCE), based in Berlanga de Duero - Spain. Work dedicated to thinking and analyzing the spaces, times, objects and rituals that make up a given school culture and that are permeated with emotions and feelings, presenting a new study perspective for researchers in the History of Education.

OP29 Impact Of New Drug Indications After Initial Registration By The Agência Nacional de Vigilância Sanitária (ANVISA) in Brazil

IntroductionMost drugs have data only from clinical trials focused on a specific population at the time of first registration, so their indications for use are restricted to this population. In Brazil, the prices of new drugs for clinical conditions with no therapeutic alternatives are relatively high. When these drugs expand to other indications their prices are not reviewed, which can have a major financial impact. This study aimed to evaluate the financial impact of expanding the indication for trastuzumab deruxtecan.MethodsWe calculated the annual cost to treat all Brazilian patients with the indications listed for trastuzumab deruxtecan at first registration, and then all additional indications. Populations were estimated from epidemiological data from National Committee for Health Technology Incorporation reimbursement documents and a clinical trial comparing trastuzumab deruxtecan with trastuzumab emtansine. Costs were calculated using the ANVISA Câmara de Regulação do Mercado de Medicamentos price value and a patient weight of 70 kg.ResultsIn January 2022, trastuzumab deruxtecan was introduced in Brazil for patients with human epidermal growth factor receptor (HER2) positive metastatic or unresectable breast cancer who had received two or more anti-HER2 treatment regimens. In June 2022, the indication was expanded to patients with HER2-positive metastatic or unresectable breast cancer who had received one anti-HER2 treatment regimen. In November 2022, the indication was further expanded to patients with metastatic or unresectable low-expression HER2 breast cancer who had received prior systemic therapy. The number of patients estimated to be eligible for the drug increased from 383 to 23,000, with an increased total cost from BRL467,970,786 (USD90,621,763) to BRL26,048,234,160 (USD5,044,197,164).ConclusionsThe expansion of indications for trastuzumab deruxtecan may substantially increase its financial impact and compromise the sustainability of health systems. In Brazil, the lack of monitoring of drug prices means that the only change in prices occurs due to regulated annual inflation adjustments. Regulation is needed to reduce drug prices according to new indications, changes in therapeutic options for the same condition, and obsolescence.

Understanding the Sustainability Tripod in the Context of Local Markets

The crisis of the agri-food model opens space for discussion around food seeking more sustainable ways of production and consumption. The local markets can help to walk on this way, making the environment more sustainable. Thus, the article aims to analyze aspects related to environmental, social and economic sustainability with food product exhibitors in local markets in Canada and Brazil. Qualitative research was carried out at local markets, in the Concordia Farmers Market (CFM), in the city of Montreal - Canada and in the Mercado de Produção da Agricultura Familiar (FEPRAF), in the city of Júlio de Castilhos - Brazil. Data were collected through interviews and participant observation, and analyzed using content analysis. The results identified aspects related to environmental sustainability (organic and artisanal foods without chemicals and waste reduction), social (local markets generate an opportunity to strengthen relationships between producers and customers, bonds and exchange of information) and economic (appreciation of local products by developing the region's economy).

The presence of an absence: Framing capital in Mercado de futuros/Futures Market (Álvarez 2011), La mano invisible/The Invisible Hand (Macián 2016) and Cerca de tu casa/Near your Home (Cortés 2016)

The extensive bibliography devoted to Spanish austerity tends to centre on representations of a suffering population, Spanish politics or the legacy of the Transition to democracy. Invoking Fredric Jameson’s concept of cognitive mapping, this article argues that Mercado de futuros/Futures Market (Álvarez 2011), La mano invisible/The Invisible Hand (Macián 2016) and Cerca de tu casa/Near Your Home (Cortés 2016) expose capitalism’s responsibility for creating the crisis and propose alternative critical responses. These three films synecdochally identify housing, labour relations and the media as ideal battlegrounds on which to confront capital, while presenting affect as an asset open for all. All three films deny capital the status of an incontestable totality: Mercado alludes to a world beyond capitalism while Mano and Cerca adduce populist antagonisms to its long-standing hegemony. These texts reveal their vocation as cinematic critical pedagogies, producing political subjects on-screen in order to generate them in an array of off-screen contexts.

Non-Invasive Archaeological Methodologies for the Analysis of the Port Structures of Portus Ilicitanus (Santa Pola, Alicante)

The traditional identification of the ancient port of Ilici with the current town of Santa Pola in Alicante (Spain) has been based on a small number of punctual, unconnected, and too partial archaeological interventions. Since 2017, a program of geophysical surveys has been performed with a Stream X model multi-channel georadar IDS. This program has been focused mainly on the so-called Mercado de Viguetes, an area in which archaeological excavations have hardly been carried out. The geophysical surveys have allowed us to draw part of the urban fabric of the central core of the Portus Ilicitanus, revealing a set of structures that can be assimilated into a port area: warehouses, houses, open spaces, and decantation basins to produce salted fish, and the probable eastern boundary of the complex identified with the port dock. Altogether, two predominant alignments can be assimilated into the Early Imperial and Late Imperial construction phases. Non-invasive archaeological methodologies have become the main resource for archaeological analysis and heritage protection in view of the current impossibility of carrying out archaeological excavations in this area of Santa Pola.

USO INDISCRIMINADO DE PLAGUICIDAS EN LA CADENA DE VALOR DEL ROCOTO (Capsicum pubescens) EN OXAPAMPA

The research presents evidence of the intensive use of chemical pesticides along the links of the value chain of rocoto from the province of Oxapampa (Pasco Region) to the mercado de Lima. The value chain approach was used to analyze the production and supply of rocoto to Metropolitan Lima. The information gathering techniques were formal interviews, observation and review of current regulations on the use of pesticides. Oxapampa is the main supplier of fresh hot pepper to Metropolitan Lima. The results showed that all producers used chemical pesticides at harvest and postharvest, representing 22% of production costs. In the commercialization, the gatherers applied fungicides before sending the fresh rocoto to the Lima market. At the level of wholesalers and retailers, participation was evidenced by influencing decisions on the use of pesticides through the demands of rocoto fruits, of large size, color and without spots. The use of pesticides recommended for other crops was generalized, with prohibited active ingredients and restricted use in other countries (benomyl, paraquat and glyphosate). The practices in the management of pesticides in the links of production and marketing in the value chain of rocoto put at risk both the health of producers and consumers, the environment, and the continuity of this productive activity.

¿El mercado de Bitcoines eficiente? Una revisión de la literatura

¿El mercado de Bitcoines eficiente? Una revisión de la literatura

Burbujas inmobiliarias: un modelo preventivo para el mercado de bienes raíces de Asunción, Paraguay. Periodo 1995-2015

Esta investigación busca responder a la interrogante principal sobre si existió una burbuja inmo biliaria en la ciudad de Asunción durante los años de 1995 a 2015. Además de analizar la evo lución del precio del mercado de bienes raíces de Asunción, también se identifican y examinan los fundamentos de equilibrio por el lado de la demanda y de la oferta de dicho mercado. Ante la ausencia de un índice de precios para el mercado inmobiliario de Asunción, se utilizan índices alternativos de acuerdo a la literatura (tal como el índice de alquileres), y a partir de modelos econométricos para variables latentes, se estima un índice de precios alternativo. Mediante dichos índices y el uso de variables claves de la determinación teórica de equilibrio de largo plazo en el mercado de bienes raíces, las pruebas de cointegración aplicadas sugieren la ausencia de burbuja inmobiliaria en Asunción durante el periodo de tiempo considerado. En tanto que, mediante un modelo vector de corrección de errores, se constata que la variación del precio de viviendas del mercado de Asunción estuvo, principalmente, explicada por factores de demanda, como ser el costo real de uso de vivienda y el costo real del crédito hipotecario (tasa de interés real hipotecaria) y en una menor proporción, por factores pertenecientes a la oferta como ser el costo de la tierra.

Evaluación del estado de elementos estructurales del Mercado de Legazpi: Ataque por sulfatos al hormigón y corrosión de las armaduras

El presente trabajo describe la metodología empleada para el estudio del estado del hormigón de zapatas, soportes, así como del terreno en varias zonas del edificio del Mercado de Legazpi en Madrid (España). Se han analizado los pilares, los arranques de pilar, las zapatas y los terrenos donde estos últimos están enterrados. Se ha realizado una inspección visual y una caracterización por ultrasonidos, lo cual ha permitido la selección de muestras para el posterior análisis en laboratorio mediante difracción de rayos X y microscopía electrónica de barrido, así como cuantificación de cloruros y sulfatos. Se han encontrado afecciones de corrosión de las armaduras en zonas puntuales, que son debidas tanto al anterior uso de la estructura como al envejecimiento de la misma. También existe una importante cantidad de sulfatos en los terrenos, de origen antrópico, que explicarían la formación de productos de ataque sulfático en las zapatas. El ataque por sulfatos, aunque presente, no parece suponer una merma importante en la integridad de la estructura.

Uma análise teórica sobre o fator cultural e o assédio moral nas organizações perante o mercado de trabalho do público LGBT/ A theoretical analysis of the cultural factor and bullying in organizations in the face of the labor market of the LGBT public

Hoje em dia, há cada vez mais discussões sobre os conceitos de gênero, sexo e diversidade, e isso é necessário. Ainda hoje, algumas pessoas ainda não aceitam o ponto de vista deste tema, e acreditam que qualquer comportamento que se desvie do modelo de gênero concebido pelo comportamento social definido fora do "modelo tradicional" é considerado um comportamento impróprio, ou mesmo um comportamento anormal. Tendo em vista a Constituição Federal Brasileira, em seu artigo 5º, todos são iguais perante a lei, sem distinção de natureza, e gozam da vida, da liberdade, da igualdade, da segurança e dos direitos de propriedade. Além de entrar no mercado, a população LGBT já está na frente da sociedade. Porém, para essas pessoas, inclusive os profissionais, o preconceito ainda é uma realidade. Os esforços e ações internas da empresa contra certas minorias sociais são relativamente comuns, mas vale a pena investigar se a diversidade de gênero é considerada da mesma forma, com uma revisão bibliográfica de tópicos como a dimensão humana da comunicação organizacional, diversidade e orientação sexual. O direito adotado pela sociedade é diferente do direito prescrito pela lei, pois a situação real é bastante diferente da situação estipulada pela teoria e pela legislação, sendo que, na maioria das vezes, esses direitos descritos na constituição estão nas mãos de pessoas que violam as barreiras do senso comum impostas pela sociedade. Envolve discussões sobre gênero, sexo e diversidade, e a mídia deve ser uma instituição importante na luta contra essa intolerância.

Transformación de los mercados en la Ciudad de México. Reproducción fallida del modelo gourmet

En la Ciudad de México se ha desarrollado un discurso público que considera la conveniencia de transformar, determinados mercados públicos, en mercados gourmet. Las medidas implementadas por el gobierno de la ciudad no han aportado los cambios esperados y, en general, se han limitado a pequeñas inversiones. Este artículo tiene por objetivo discutir el discurso de las autoridades locales con la reciente remodelación del mercado de San Ángel. Para ello fue necesario la revisión de documentos oficiales, así como trabajo de campo realizado antes, durante y posterior a la transformación del mercado, el cual consistió en la aplicación de entrevistas con locatarios y clientes. Como parte de las conclusiones, se propone que más allá de concretarse la transformación de mercados públicos, se aprecia la participación del sector privado en la reproducción de la escenificación de mercados gourmet, dirigidos a sectores de población quienes están dispuestos a pagar por productos y servicios enmarcados en una experiencia de consumo.

“Un rollo muy hípster”. Turismo, consumo y mercados de acumulación simbólica en Madrid y Barcelona

El turismo se ha mostrado como un elemento fundamental a la hora de reestructurar la economía de muchas ciudades del occidente capitalista. Este renacimiento urbano ha venido, además, arropado por una terciarización neoliberal de sus sistemas productivos. Como fenómeno dinamizador, el turismo no ha venido solo, sino acompañado, en gran cantidad de ocasiones, de profundas transformaciones físicas y simbólicas: proyectos urbanísticos, políticas culturales, de celebraciones y acogida de mega-eventos, etc. De este modo, la metamorfosis del espacio urbano, así como la estetización de su estructura, son la consecuencia del papel transformador del turismo y la cultura, bases actuales del cambio económico. En todo ello, los mercados de abasto tradicionales, así como una nueva tipología que ha surgido en los últimos años especializada en estética y ocio, suponen una pieza fundamental en la continuación de los procesos de acumulación capitalista. El presente artículo persigue mostrar, a través del análisis de dos mercados -el Mercado de Motores y Palo Alto Market, localizados en las ciudades de Madrid y Barcelona-, el papel que éstos juegan en las dinámicas de terciarización y consumo de las ciudades contemporáneas. Y para ello se mostrarán tanto sus elementos comunes, como aquellos que los hacen únicos, con el objetivo de subrayar su nueva funcionalidad en la competencia internacional por hacer más atractivas las ciudades para visitantes y capitales.

ABOUT CRITICISM, SELF-CRITICISM AND LEGITIMATION: the journalistic ethos in The Staple of News

The article analyzes the dispositions, perceptions and values of journalists interviewed by Brazilian documentary “O Mercado de Notícias” [“The Staple of News”] (Jorge Furtado/2014/94 min). The analysis is based on the theoretical-conceptual framework of Pierre Bourdieu's sociological thinking. Some of the main excerpts from the testimonies of the 13 professional agents invited by the filmmaker are studied and categorized to explain the representations they have about the journalistic field.

Cost-effectiveness analysis of the SP142 versus 22C3 PD-L1 assays in the treatment of atezolizumab plus nab-paclitaxel for patients with advanced triple negative breast cancer in the Brazilian private healthcare system

Objective The aim of the study was to demonstrate the clinical and economic impact of two PD-L1 IHC assays, SP142 versus 22C3, to identify the eligibility of the patients with advanced triple negative breast cancer (aTNBC) to the treatment with atezolizumab plus nab-paclitaxel in the Brazilian private healthcare system (BPHS). Methods The study performed a cost-effectiveness analysis based on a partitioned-survival model with three mutually exclusive health states: progression-free (PF), progression, and death. Data of progression-free survival and overall survival were extracted from a retrospective exploratory analysis of IMpassion130, an analytical harmonization of PD-L1 IHC assays. The analyses included only direct costs (drug acquisition and management of adverse events) that were based on CBHPM (Classificação Brasileira Hierarquizada de Procedimentos Médicos) and CMED PF18% (Câmara de Regulação do Mercado de Medicamentos) tables. A probabilistic sensitivity analysis was performed as a second-order Monte Carlo Simulation in order to evaluate the uncertainties of the model. Results The SP142 assay has the potential to improve PFS and generate savings to the BPHS. The incremental cost-effectiveness ratio (ICER) was –USD 4,119.43 per month of progression-free survival. Conclusions The SP142 assay demonstrated to be a dominant alternative compared to 22C3 to guide the treatment with atezolizumab plus nab-paclitaxel in patients with aTNBC.

Economic evaluation of the SP142 versus 22C3 PD-L1 assays in the treatment of atezolizumab plus nab-paclitaxel for patients with advanced triple negative breast cancer in the Brazilian private healthcare system

Objective: The aim of the study was to demonstrate the economic impact of two PD-L1 immunohistochemistry (IHC) assays, SP142 versus 22C3, in the treatment with atezolizumab plus nab-paclitaxel in patients with advanced triple negative breast cancer (aTNBC) in the Brazilian private healthcare system (BPHS). Methods: The study performed two analyses: one per patient and other of the potential population projected for the BPHS (budget impact analysis). Data of progression-free survival and overall survival were extracted from a post hoc analysis of the IMpassion130 trial to develop a partitioned-survival model to simulate the economic impact of the treatment with atezolizumab plus nab-paclitaxel guided by the SP142 and 22C3 assays on patients with aTNBC. The analyses included only direct costs that were based on CBHPM (Classificação Brasileira Hierarquizada de Procedimentos Médicos) and CMED (Câmara de Regulação do Mercado de Medicamentos) PF18% tables. A univariate sensitivity analysis was performed with the parameters varying ± 20%. Results: The study has demonstrated that the SP142 assay has the potential to save –BRL 179,730 with the treatment of atezolizumab plus nab-paclitaxel per patient with aTNBC in five years. Conclusion: The SP142 assay can optimize the use of atezolizumab plus nab-paclitaxel avoiding its prescription in patients who will not have a significant clinical improvement.

O PAPEL DO MERCADO DE TRABALHO NA COMPLEMENTARIDADE ENTRE A MIGRAÇÃO E A PENDULARIDADE NA REGIÃO METROPOLITANA DE CURITIBA ENTRE 2000 E 2010/The role of the labor market in the complementarity between migration and commuting in the Metropolitan Region of Curitiba between 2000 e 2010

O objetivo deste artigo é identificar a existência de uma relação de complementaridade entre a migração e a pendularidade na Região Metropolitana de Curitiba (RMC) entre 2000 e 2010 e verificar como o mercado de trabalho pode influenciar nessa relação. Uma análise descritiva e explicativa dos microdados dos Censos Demográficos de 2000 e 2010 mostram percentuais significativos de complementaridade entre a migração e a pendularidade, ou seja, parte significativa dos indivíduos que migram, principalmente de Curitiba para o entorno, se tornam pendulares de saída e trabalham na origem migratória (Curitiba). A análise dos dados secundários do total de ocupações dos municípios em comparação com o total de imigrantes residentes nesses municípios mostra que, na maior parte deles, as ocupações existentes não são suficientes para explicar a imigração e o rendimento médio dos municípios do entorno é menor que do núcleo e não seria um fator atrativo.

Economic evaluation of SP142 IHC assay versus 22C3 IHC assay in patients with unresectable locally advanced or metastatic triple-negative breast cancer in the Brazilian private healthcare system.

e13097 Background: The IMpassion130 trial has demonstrated that atezolizumab plus nab-paclitaxel results in significant clinical benefits for patients with unresectable locally advanced or metastatic (aTNBC). The SP142 IHC assay is a clinically validated and FDA-approved PD-L1 test to identify patients with aTNBC for treatment with atezolizumab plus nab-paclitaxel. A post hoc analysis of IMpassion130 evaluated two other PD-L1 IHC assays, 22C3 and SP263, for analytical and clinical concordance with SP142 and the PD-L1 prevalence by each assay. The prevalence of PD-L1+ per SP142 (tumor-infiltrating immune cells 1%), 22C3 (combined positive score1) and SP263 (tumor-infiltrating immune cells 1%), were 46%, 81% and 75%, respectively. The study compared only SP142 assay with 22C3 assay because patients with SP142 negative and 22C3 positive did not demonstrate a significant clinical benefit for progression-free survival (PFS) and overall survival (OS). Therefore the study aimed to demonstrate the economic impact of these assays in the treatment with atezolizumab plus nab-paclitaxel. Methods: Data of PFS and OS from the post hoc analysis of Impassion130 were extracted to develop a Markov model to simulate the clinical and economic impact of the patient with atezolizumab plus nab-paclitaxel guided by SP142 and 22C3 assays. The analysis considered the cost of atezolizumab+nab-paclitaxel, the cost associated with the management of the adverse events and the cost of the assay. The costs were based on CBHPM (Classificação Brasileira Hierarquizada de Procedimentos Médicos), CMED PF18% (Câmara de Regulação do Mercado de Medicamentos) and local publications. An univariate sensitivity analysis was performed. Results: The study demonstrated that SP142 assay has the potential to save 175,917 BRL (45,595 USD) with atezolizumab plus nab-paclitaxel per patients with aTNBC in three years. Conclusions: The SP142 assay can optimize the use of atezolizumab plus nab-paclitaxel avoiding its use in patient who will not have a significant clinical improvement.

Impactos do Processo de Aquisição na Estrutura, Estratégia e Cultura Organizacional: Estudo de Caso em uma Empresa do Mercado de Meios de Pagamento

Concebidas como operações para expandir e diversificar mercados, buscando aproveitar oportunidades de negócios, as Fusões e Aquisições (F&A) são consideradas uma das mais recorrentes formas de reestruturação organizacional, cujos impactos atingem os mais variados aspectos, incluindo as decisões estratégicas, a estrutura organizacional e a cultura corporativa. Todos esses aspectos são essenciais para determinar o sucesso ou o fraco de um processo de F&A e não podem ser negligenciados. Sob essa perspectiva, o presente artigo tem como objetivo explorar o processo de aquisição de uma empresa do mercado de pagamentos brasileiro, investigando as principais mudanças e impactos na estratégia e na estrutura organizacional e a percepção e adaptação dos funcionários aos novos elementos culturais desta empresa decorrentes de tal processo. A pesquisa foi conduzida tendo como base, fontes documentais tais quais relatórios e apresentações internas da empresa e; entrevistas com executivos dos níveis operacional, tático e estratégico, que vivenciaram o processo de aquisição tanto na empresa adquirida quanto na adquirente. Os resultados evidenciaram que elementos culturais da instituição financeira adquirente foram rapidamente incorporados à empresa estudada. A estratégia e a estrutura organizacional da empresa sofreram alterações em sua forma de solucionar problemas gerenciais, melhorar indicadores estratégicos de desempenho e aumentar a sinergia entre as duas empresas. Palavras-chave: Estratégia. Estrutura Organizacional. Mercado de Pagamentos. Fusões e Aquisições. AbstractPlanned as operations to expand and diversify markets, in order to take advantage of business opportunities, mergers and acquisitions (M&A) are considered one of the most recurrent forms of organizational changes, whose impacts affect the most varied aspects, including strategic decisions, organizational structure and corporate culture. All these aspects are essential to determine the success or weakness of a M&A process and can not be neglected. In this perspective, this article aims to explore the process of acquiring in a company from the Brazilian payments market, investigating the main changes and impacts in the strategy and organizational structure and the perception and adaptation of the employees to the new cultural elements resulting from such process. The research was carriet out through documentary sources, such as internal reports and presentations, and interviews with executives at the operational, tactical and strategic levels who experienced the acquisition process both in the acquired company and in the acquirer. The results showed that acquirer’s cultural elements were quickly incorporated into the acquired company. The strategy and organizational structure of the acquired company undergone changes as a way to solve managerial problems, improve strategic performance indicators and increase the synergy between the two firms. Keywords: Strategy. Organizational Structure. Payment Market. Mergers and Acquisitions.

Conocer, transmitir, convivir, reconocer y valorar : nuevas categorías para la comprensión del patrimonio cultural inmaterial (PCI) en la plaza de mercado de las flores en Bogotá.

El PCI analiza las diferentes expresiones culturales a partir de los lineamientos dados por la UNESCO y el Ministerio de Cultura en un ejercicio académico y gubernamental que busca clasificar, valorar y visibilizar aquello que se considera representativo para la nación. Para lograrlo, define 13 campos en los cuales se inscriben las diferentes manifestaciones, no obstante, la mayoría de estos campos son lejanos a los procesos culturales que se tejen en la ciudad. A partir de esta afirmación, se plantea el estudio de la plaza de mercado desde un enfoque histórico que permite reconocer sus transformaciones y permanencias, para pasar a un análisis etnográfico de la Plaza de Mercado de las Flores, ubicada en la localidad Kennedy en Bogotá, del cual surgen nuevas categorías de análisis: conocer, transmitir, convivir, reconocer y valorar, que permiten que la plaza sea interpretada como un complejo entramado cultural.